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JSE-listed Gold Fields has completed a joint venture (JV) transaction with Asanko Gold, giving it a 50% stake in Asanko's 90% interest in the Asanko gold mine, in Ghana.

"The closing of the transaction with Asanko gives us exposure to a great camp with long-life, low-cost production, with significant exploration potential in a country we know well and have operated in for 25 years," Gold Fields CEO Nick Holland said in a statement on Tuesday.

Upon closing of the transaction, Asanko Gold received $165-million from Gold Fields, which it has used to settle its debt with Red Kite.